CANADA STOCKS-TSX slides over 1 percent as financials lead retreat

Wed May 17, 2017 11:09am EDT
 
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* TSX down 161.61 points, or 1.04 percent, to 15,381.72

* Nine of TSX's 10 main groups fall

* Materials up 0.4 percent as gold prices rise

TORONTO, May 17 (Reuters) - Canada's main stock index fell on Wednesday, tracking global market concerns that U.S. President Donald Trump's pro-business economic agenda could be slowed by political scandals, with financial stocks leading declines.

The pullback in global markets came about a week after Trump fired then-FBI Director James Comey and disclosed sensitive national security information in a meeting with Russian officials.

The White House's problems worsened on Tuesday when media reported the Republican president had asked Comey in February to end a probe into his former national security adviser, a move that could be seen as obstruction of justice. The White House dismissed the reports as untrue.

The most influential movers on the Toronto Stock Exchange's S&P/TSX composite index were dominated by financial firms, which make up roughly a third of the index's weight. The group slid 1.4 percent.

Royal Bank of Canada shed 1.4 percent to C$91.745, while Toronto Dominion Bank lost 1.1 percent to C$62.41. Insurer Manulife Financial Corp dropped 3.0 percent to C$23.01.

Alternative lender Home Capital Group Inc, which reported a further decline in its deposit balances, saw shares stumble 7.0 percent to C$8.35.   Continued...